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Government Assistance – Lockdown 3

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The Chancellor Rishi Sunak has unveiled some brief plans with regards to extra financial support after yesterday’s lockdown news:

– Businesses in the retail, hospitality and leisure sectors will receive up to £9,000 per property in one-off grants as follows:

– £4,000 for businesses with a rateable value of £15,000 or under

– £6,000 for businesses with a rateable value between £15,000 and £51,000

– £9,000 for businesses with a rateable value of over £51,000

– The package also includes a £594m discretionary fund for other businesses that might be affected.

No further news regarding how to access these funds although it is likely it will all be administered as before by Local Authorities.

So far nothing has been announced regarding the Self Employed Income Support Scheme (SEISS) regarding either extensions or eligibility changes nor anything regarding changes to Government Backed Loans.